Category: Highlights

China Resists Renegotiation of Capacity Tariff for IPPs Amid Pakistan’s $1 Billion Payment Delay

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China-Pakistan

KARACHI: China has shown reluctance to renegotiate the capacity tariff agreements for Chinese Independent Power Producers (IPPs) operating under the China-Pakistan Economic Corridor (CPEC), citing delayed payments from Pakistan. Speaking at an event hosted by the All Pakistan Newspapers Society (APNS), Chinese Ambassador to Pakistan Jiang Zaidong emphasized that the capacity tariff was part of a universal arrangement made by the Pakistani government to support its power sector. Ambassador Jiang revealed that Pakistan has delayed payments amounting to $1 billion to Chinese IPPs, despite Chinese investments of $5.5 billion in…

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Govt Orders FIRs Against Grid Station Takeovers in KP

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Power genration

ISLAMABAD: After months of cautious restraint, the federal government has decided to initiate legal action against the forced takeovers of grid stations in Khyber Pakhtunkhwa (KP), involving the deployment of Frontier Constabulary (FC) personnel to safeguard power infrastructure. Tensions between the federal PML-N government and KP’s PTI-led administration have escalated since the general election, with the issue being a major point of contention. Sources from the power division revealed that a directive was sent to the Peshawar Electric Supply Company (Pesco), ordering FIRs to be lodged against those responsible for…

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Privatisation Crucial for Reforming DISCOs: Experts Advocate KE Model for Better Governance

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Power-sector

ISLAMABAD: Energy experts are calling for the privatisation of Pakistan’s electricity distribution companies (DISCOs) as a vital step toward their reform. During a consultation organized by the Parliamentary Forum on Energy and Economy, stakeholders discussed the future of DISCOs, emphasizing the need for improved governance and efficiency. National Assembly Speaker Ayaz Sadiq highlighted the challenges posed by high power tariffs, noting that previous issues with loadshedding have hindered investment and exacerbated inefficiencies in the energy sector. Shaheera Tahir from PRIED recommended using K-Electric (KE) as a blueprint to enhance accessibility…

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Significant Gas Reserves Discovered in North Waziristan: Shewa-2 Well to Boost Domestic Production by Over 3%

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Mari-Petroleum

KARACHI: Pakistan has made a major breakthrough in its energy sector with the discovery of substantial gas reserves estimated at 351.2 billion cubic feet (BCF) in the Shewa fields of North Waziristan. This new find is expected to contribute 70 million cubic feet per day (mmcfd) to the national grid, increasing the country’s domestic gas production by over 3% daily and reducing reliance on costly fuel imports. According to Mari Petroleum‘s 2024 Annual Report, the Shewa-2 well will begin injecting gas into the system following the completion of a new…

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Aurangzeb Vows Economic Stability Through IMF Deal and Tax Reforms

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Muhammad-Aurangzeb

ISLAMABAD: Finance Minister Muhammad Aurangzeb reaffirmed on Tuesday that Pakistan is on the right track to achieving macroeconomic stability, emphasizing the importance of securing external financing to finalize the $7 billion IMF bailout package. He stressed the need for structural reforms, warning provincial governments against populist measures like energy subsidies. In a televised address, Aurangzeb highlighted significant economic progress, including a drop in inflation from 38% to single digits and a boost in foreign exchange reserves. He called for a crackdown on tax evasion, insisting on increased tax compliance from…

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